CIBC Raises Tamarack Valley Energy (TSE:TVE) Price Target to C$5.25

Tamarack Valley Energy (TSE:TVE) had its price objective increased by research analysts at CIBC from C$4.50 to C$5.25 in a research note issued on Monday, BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. CIBC’s price target suggests a potential upside of 35.66% from the stock’s current price.

Other research analysts have also recently issued reports about the company. Desjardins boosted their target price on Tamarack Valley Energy from C$4.50 to C$4.75 and gave the stock a “buy” rating in a research note on Friday, March 22nd. Canaccord Genuity Group boosted their target price on Tamarack Valley Energy from C$4.25 to C$4.75 and gave the stock a “buy” rating in a research note on Wednesday, April 17th. Stifel Nicolaus boosted their target price on Tamarack Valley Energy from C$4.75 to C$5.00 and gave the stock a “buy” rating in a research note on Thursday, February 29th. BMO Capital Markets set a C$4.00 target price on Tamarack Valley Energy and gave the stock a “market perform” rating in a research note on Thursday, March 21st. Finally, ATB Capital lowered their target price on Tamarack Valley Energy from C$6.00 to C$5.50 and set an “outperform” rating for the company in a research note on Thursday, February 29th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, Tamarack Valley Energy has an average rating of “Moderate Buy” and a consensus price target of C$4.93.

Tamarack Valley Energy Trading Up 2.1 %

Shares of TSE TVE opened at C$3.87 on Monday. Tamarack Valley Energy has a twelve month low of C$2.76 and a twelve month high of C$4.34. The company has a current ratio of 0.52, a quick ratio of 0.80 and a debt-to-equity ratio of 43.39. The stock has a fifty day simple moving average of C$3.66 and a 200-day simple moving average of C$3.51. The stock has a market capitalization of C$2.10 billion, a PE ratio of 22.76 and a beta of 2.59.

Tamarack Valley Energy (TSE:TVE) last issued its quarterly earnings data on Wednesday, February 28th. The company reported C$0.10 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.06 by C$0.04. Tamarack Valley Energy had a return on equity of 4.34% and a net margin of 6.70%. The business had revenue of C$418.86 million during the quarter. On average, equities analysts forecast that Tamarack Valley Energy will post 0.2799189 earnings per share for the current year.

Insiders Place Their Bets

In other Tamarack Valley Energy news, Senior Officer Brian Leslie Schmidt purchased 8,673 shares of the firm’s stock in a transaction on Wednesday, March 13th. The stock was bought at an average cost of C$3.55 per share, with a total value of C$30,789.15. In other news, Senior Officer Scott Shimek bought 8,500 shares of Tamarack Valley Energy stock in a transaction dated Wednesday, April 3rd. The stock was acquired at an average cost of C$4.08 per share, with a total value of C$34,680.00. Also, Senior Officer Brian Leslie Schmidt bought 8,673 shares of Tamarack Valley Energy stock in a transaction dated Wednesday, March 13th. The stock was purchased at an average cost of C$3.55 per share, with a total value of C$30,789.15. Insiders acquired 47,718 shares of company stock valued at $178,867 in the last ninety days. Insiders own 1.15% of the company’s stock.

Tamarack Valley Energy Company Profile

Tamarack Valley Energy Ltd. engages in the acquisition, exploration, development, and production of oil, natural gas, and natural gas liquids in the Western Canadian sedimentary basin. It primarily holds interests in Cardium light oil plays in Wilson Creek/Alder Flats/Pembina, and Garrington and Lochend areas in Alberta; Viking light oil resource plays in Redwater and Westlock in Alberta, as well as in the Consort area of southeast Alberta and Hoosier area of southwest Saskatchewan; Barons Sands light oil plays located in the Penny area of Southern Alberta; and heavy oil properties located in Hatton area of Saskatchewan.